Litecoin LTC/USD is trading at 72.77. The cryptocurrency is trading below the lower boundary of the Ichimoku Kinko Hyo Cloud, indicating a bearish trend in Litecoin. The test area of Ichimoku Kinko Hyo signal lines is expected near the level of 74.00, from which one should expect a rebound and an attempt to continue falling LTC/USD with a target below 65.00.
Litecoin forecast & analysis LTC/USD August 7, 2018
An additional signal in favor of reducing the Litecoin cryptocurrency will be a test of the resistance area, as well as a test of the upper boundary of the bearish channel. Earlier, a weak signal was received for sell of Litecoin cryptocurrency, due to crossing of signal lines at the level of 83.50.
The abolition of the Litecoin cryptocurrency fall will be a breakdown of the upper boundary of the Ichimoku Kinko Hyo Cloud and the closing above the level of 80.00, which will indicate a change in the bearish trend in favor of the bullish trend and the continued growth of the cryptocurrency. Expect the acceleration of the drop in LTC/USD quotes with the breakdown of the support area and the closing below the level of 70.00.
Litecoin forecast & analysis LTC/USD August 7, 2018 suggests an attempt to develop a correction of the cryptocurrency and a 74.00 level test, from which it is expected to continue the decline of the Litecoin exchange rate with a potential target near the level of 65.00, the abolition of the decline option will be strong growth and breakdown of the region of 80.00.